India Flash Composite PMI Rebounds to 56.5 in September, a Three-Month High

India's business activity accelerated in September, with HSBC's flash composite PMI rising to 56.5 from 54.3 in August, its highest since June and above the Reuters poll median of 54.4. Readings above 50 signal expansion. The manufacturing PMI climbed to 55.7 from 52.8, a seven-month high, while the services index rose to 55.8 from 54.1. Despite the rebound, the composite averaged 55.1 this quarter, down from 58.2 in April-June, pointing to slower growth in Asia's third-largest economy after a 7.8% expansion last quarter. New export orders grew at the slowest pace in 33 months, and services hiring lost momentum. Input-cost inflation eased to its lowest since January, though selling-price inflation was little changed. Business confidence for the coming year rose to a four-month high.